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Wood Based Panel Market Analysis
- Report ID: GMI6553
- Published Date: Aug 2023
- Report Format: PDF
Wood Based Panel Market Analysis
Based on product, the wood based panel market is segmented as plywood, particleboard, medium density fibreboard (MDF), oriented strand board (OSB), hardboard, softboard, laminated veneer lumber (LVL), other engineered wood panels. Plywood held a majority industry value of USD 42.7 billion in 2022. Plywood's strength, versatility, and structural integrity make it a preferred choice for applications such as roofing, flooring, and wall sheathing.
Based on end-use, the wood based panel market is segmented as furniture and furnishing, construction and building, automotive and transportation, packaging and logistics, industrial equipment, others. Furniture and furnishing held a dominant industry share of around 30% in 2022. Plywood, MDF, and particleboard are used to manufacture cabinets, shelves, and other case goods due to their versatility and ability to hold finishes.
U.S. dominated the North American region with majority wood based panel market share and a revenue of USD 40.2 billion in 2022. The expansion of commercial spaces, office buildings, retail centers, and other commercial properties requires wood-based panels for interior finishes, partition walls, and more.
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Wood Based Panel Market Scope
